Loan & Mortgage Calculator
Currency:
$
%
years
$
Optional monthly extra
EMI (Equated Monthly Installment) is the fixed monthly payment for a loan, comprising both principal and interest. Widely used in India and South Asia for home loans, car loans, and personal loans. The formula is identical to the standard loan payment calculation.
💡
Tip: Choose your EMI carefully — it should not exceed 30–40% of your net monthly income. Indian banks typically cap home loan EMI at 50–55% of gross monthly income.
- 1EMI = P × r × (1+r)^n / ((1+r)^n − 1)
- 2P = Principal, r = monthly interest rate (annual rate/12), n = loan tenure in months
- 3Total payment = EMI × n; Total interest = Total payment − Principal
- 4Partial prepayment reduces either the EMI or the tenure
₹50 lakh loan, 8.5% p.a., 20 years=₹43,391 EMITotal interest: ₹54.1 lakh
₹10 lakh personal loan, 14%, 3 years=₹34,178 EMITotal interest: ₹2.3 lakh
| Rate (p.a.) | 10 years | 20 years | 30 years |
|---|---|---|---|
| 7% | ₹11,611 | ₹7,753 | ₹6,653 |
| 8.5% | ₹12,399 | ₹8,678 | ₹7,689 |
| 10% | ₹13,215 | ₹9,650 | ₹8,776 |
| 12% | ₹14,347 | ₹11,011 | ₹10,286 |
⭐
Fun Fact
India's home loan market has grown to over ₹30 lakh crore ($360 billion). The RBI's repo rate directly affects home loan rates — each 25bps change in repo rate shifts a ₹50 lakh, 20-year loan EMI by roughly ₹900.
References
🔒
୧୦୦% ମାଗଣା
ପଞ୍ଜୀକରଣ ଆବଶ୍ୟକ ନାହିଁ
✓
ସଠିକ
ଯାଞ୍ଚ ହୋଇଥିବା ସୂତ୍ର
⚡
ତତ୍କ୍ଷଣ
ତତ୍କ୍ଷଣ ଫଳ
📱
ମୋବାଇଲ୍ ଅନୁକୂଳ
ସମସ୍ତ ଡିଭାଇସ୍